C130 by IIC Actual Free Exam Questions And Answers

Question 1

Why would an intermediary want to know if a client is renovating their home?

A. The increase in property taxes will have to be factored into the premium.

B. The risk of a peril occurring is greater for a building under construction.

C. The liability hazards decrease because the home is unoccupied.

D. The policy needs to be cancelled and written under a builder's risk policy.

Discussion 0

Correct Answer: B Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 2

Relay Cycle Shop has been non-operational for six months since an arsonist set fire to the building. The store is empty of all contents, and contractors continue to work onsite. The owner of the shop anticipates it will be able to reopen in four weeks. How would the shop traditionally be categorized by the insurer?

A. Abandoned

B. Idle

C. Vacant

D. Unoccupied

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 3

In law, what does the term prescription mean?

A. Limited time after which a cause of action ceases

B. Guidelines relating to the acceptability of a class of risk

C. Transferring of the rights for action against the responsible party to the insurer

D. Committing to an automatic renewal process

Discussion 0

Correct Answer: A Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 4

Which type of adjuster processes a large volume of claims that do not require inspecting property damage or visiting the loss location?

A. Service adjuster

B. Telephone adjuster

C. Account adjuster

D. Remote adjuster

Discussion 0

Correct Answer: B Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 5

Priya, a broker, receives a call from a prospective client, Umberto. Priya handles Umberto's inquiry and at the end of the call asks how he heard about her brokerage. He states that his manager at work has their home and auto coverage placed with Priya's brokerage. Which prospecting method would Priya check off on her questionnaire?

A. Marketing

B. Upselling

C. Cold calling

D. Cross-selling

Discussion 0

Correct Answer: A Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 6

Which is an example of an indirect loss?

A. Water damage to an apartment when a frustrated tenant intentionally fails to turn off a tap

B. Loss of income following a fire claim that closes a factory

C. Arson at a retail store, initiated by an employee

D. Liability claim resulting from a slip and fall at a cinema

Discussion 0

Correct Answer: B Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 7

What is included in an experience letter from an insurer or broker?

A. Period during which the individual was insured

B. Name of each driver and applicable licence class

C. Amount of the last insurance premium paid

D. List of all vehicles owned by the insured over the past six years

Discussion 0

Correct Answer: A Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Question 8

What is an agent's consideration when assessing a potential client and the client's attitude towards risk?

A. People have the same acceptance of risk.

B. People's habits are unrelated to their level of risk.

C. Availability of insurance coverage may be affected by the client's lifestyle.

D. Clients who lead riskier lives are good sources of profit for insurance brokers.

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

IIC Essential Skills for the Insurance Broker and Agent - C130 Exam Practice Test

Contact Us

Useful Links

Latest Updated